Adecco: shares get boost after broker comments
(CercleFinance.com) - Adecco shares are outperforming the Swiss market this Thursday, buoyed by positive comments on the staffing sector from UBS analysts.
Although UBS has maintained its "neutral" rating on the Adecco stock, having cut its target price from 75 Swiss francs to 62 Swiss francs, comments by its team were largely supportive.
"Staffing has been the weakest sub-sector this year, but we don't believe the cycle is over yet," UBS noted.
"Growth rates can hold and margin trends improve into the second quarter", it added.
Adecco shares are up 0.9% at 60.4 Swiss francs today, outperforming a 0.5% rise in Zurich's SMI index.
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